mrsanto
Long

EURUSD: NEW SETUP - ABCD or BULLISH BUTTERFLY ? -

FX:EURUSD   Euro / U.S. Dollar
Past days price moved downward and i was waiting for EURUSD             to touch the bottom of the bullish channel but it failed.
Today the price finally made some moves UP.
Depending on today close i will follow this plan. I can see a potential ABCD pattern or a bullish butterfly developing with a lot of chances to enter good trades.
Let's wait for tomorrow.
this is a crab my friend. :)
Reply
mrsanto nezyrinfx
A classic crab should retrace XA leg (point B) at max 61.8 but maybe i'm missing something.
if i look at 4H it seems more like a butterfly but i can be completely wrong



Actually i still prefer the AB CD pattern since it aligns well with my personal weekly and monthly analysis.
Reply
nezyrinfx mrsanto


here's mine from 6 days ago...C and D point of us would still be the same. cheers :)
Reply
how can it be butterfly if your point B is at 61.8 fib? butterfly would need B point to reach 78.6
Reply
mrsanto nezyrinfx
Actually my point B is at 72.4
You're right, it's not a "perfect" butterfly but in my opinion h patterns are not always developing at golden fib ratio.
by the way the butterfly is just an hypothesis right now
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out